Oil

Saudi Aramco reports Q1 2024 net income of $27.2 billion

Cash flow from operating activities stands at $33.59 billion

Oil prices slide as U.S. inventories surge, demand weakens

Brent crude oil futures dropped by 30 cents or 0.36 percent, settling at $82.86 per barrel

ADNOC Gas net income surges 21 percent in Q1 2024 at $1.18 billion

Domestic gas net income unit margin saw a 20 percent Y-o-Y improvement

Oil prices up amidst global tensions, concerns about sluggish demand and reduced supplies

Brent oil futures expiring in July had risen by 0.5 percent to reach $83.73 per barrel

UAE’s Sharjah announces discovery of new gas reserves in Al-Hadiba field

The gas field contains economically viable quantities of gas, according to the Sharjah Petroleum Council

Oil prices inch up as Saudi Arabia increases June crude prices

Brent crude futures rose by 28 cents, or 0.3 percent, reaching $83.24 per barrel

Oil prices surge amid U.S. economic data disappointment, supply risks due to geopolitical risk

Brent crude futures saw a gain of 31 cents, equivalent to 0.4 percent, reaching $89.32 per barrel

Saudi Arabia’s non-oil exports surge by 4.4 percent to $5.82 billion in February

Rubber and plastic product exports in February fueled the rise in non-oil shipments

Oil prices experience minor decline amid easing Middle East tensions

EIA reported an unexpected U.S. crude drop of 6.4 million barrels, surpassing expectations of an 825,000-barrel increase

Oil prices stabilize as focus shifts to U.S. economy, interest rates

The unexpected decrease in U.S. inventories, as indicated by industry data, provided some support to crude prices

Oil prices rebound by 27 cents, Brent crude reaches $87.27 per barrel

Investors fueled the increase as they continued to assess geopolitical concerns in the Middle East

Saudi Aramco to acquire 10 percent stake in China’s Hengli Petrochemical

Deal aligns with Aramco’s strategy to expand its presence in key high-value markets like China

IMF projects MENA region’s GDP to grow 2.7 percent in 2024

The IMF expects growth to strengthen by 4.2 percent in 2025

Oil prices drop as Middle East tensions ease, market sentiment shifts to fundamentals and macroeconomics

Brent crude futures declined to $86.62 per barrel, WTI crude futures dropping to $82.51 per barrel

UAE’s Murban crude hits record activity in March, over 1.1 billion barrels traded

Since its inception, IFAD has facilitated the trading of nearly 6 billion barrels of Murban crude oil

Kuwait Petroleum Corporation launches e-commerce platform for the oil sector

The initiative aligns with the corporation's vision to leverage innovation and technology for maximum profitability

Oil prices soar $3 per barrel amid concerns of supply disruptions 

Brent futures rose by $2.63, reaching $89.74 per barrel

Saudi Arabia’s crude oil production reaches seven-month high in February

This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month

Oil prices stabilize after steep declines amid U.S. rate hike fears, Venezuela sanctions

Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions

Oil prices climb on China’s economic growth, Middle East tensions

Brent crude futures for June delivery gained 48 cents, or 0.5 percent, settling at $90.58 per barrel

Saudi Arabia’s drilling firm ADES secures $93.3 million contract to operate jack-up rig in Qatar

The contract includes a mandatory and optional extension period of up to 18 months

Oil prices fluctuate amid Middle East tensions, but analysts see limited impact on supply

Brent crude futures for June delivery fell 23 cents, or 0.2 percent, to $90.22 per barrel